Crypto Stamps — The Next NFT Hype?

Non-fungible tokens are initially digital certificates that exist on a blockchain. A blockchain is a chain of data records that are stored in a decentralized manner. The certificate is thus safe from manipulation or theft. An NFT can represent something freely chosen — physical or digital. However, the artwork/stamps, etc., can also become the NFT itself. Non-fungible tokens are currently shaking up the conventional ones. “Beware of hype!” one would like to shout. However, NFTs have so many advantages that they are the future of the art industry.

As a signature, NFTs are absolutely forgery-proof. In the event of theft, the rightful owner can be easily identified. By selling a painting, the painter sends an NFT to the buyer at the blockchain address. Thus, it is a contract of sale, which provides a high level of security. Moreover, the trade chain of the painting can be traced without any gaps.

Since the trade chain can be easily traced, it offers the artist the opportunity to be involved in the value chain in the long term. NFTs can be programmed so that the artist has a 10 percent share in every resale. This works smoothly because the NFT must change hands with the object.

Blockchain and NFT's fast-growing ecosystem offers an unparalleled opportunity to digitize the existing $12bn traditional stamps market with 180 years of…